|Rate of Interest||11.25%-26% yearly||11.25%-26% yearly|
|Loan Amount||Max: Rs.15 lakhs
|Max: Rs.15 lakhs
|Loan period||Min: 1 year
Max: 5 years
|Min: 1 year
Max: 5 years
|EMI (lowest)||Rs.1,138/- (applicable for the maximum tenure of lowest loan amount)||Rs.1,138/- (applicable for the maximum tenure of lowest loan amount)|
|Processing Fee||Applied GST + 2.50% of loan amount||Applied GST + 2.50% of loan amount|
|Age||Max: 60 years
Min: 21 years
For salaried - Min: 25 years
Max: 65 years.
For self-employed- Min: 25 years Max: 65 years.
|Prepayment Charges||After 12 EMI repayments, 4% of the principal outstanding amount.||After 12 EMI repayments, 4% of the principal outstanding amount.|
IndusInd Bank Personal Loan provides the individuals with a wide range of benefits although, availing it will depend on certain factors which include the monthly income of the applicant, credit history, and financial status. The interest rates offered on personal loan varies from 12.99%-18.25%, and the applicant is not required to provide any collateral, security or guarantor. The loan repayment options include EMI and ECS.
If you are a salaried individual and work with a high net-worth company, the bank may provide you low returns on your loan compared to those without a steady income like a businessman.
If you already are an existing customer of the bank with good rapport and the bank trusts you blindly, the bank can bend some rules and can reduce the interest attached to your loan.
After reviewing your CIBIL score, the bank will determine your loan repayment capacity.
Depending on the holding period of the loan, the interest rates are set. That is, for a longer tenure, the bank will offer you low-interest rates whereas; for shorter tenure, high-interest rates will be charged.
Akshar Blue Chip IT Park, 703, Thane - Belapur Rd, Turbhe, Navi Mumbai, Maharashtra 400705